Movement Alert|JIAXIN INTL RES Rises 5.15% in Regular Trading, Tungsten Prices Show Signs of Rebound Coupled with Production Growth Outlook

Market Focus
08/05

On August 5, JIAXIN INTL RES rose 5.15% in regular trading, trading at 57.9 HKD/share, with turnover of approximately 52.25 million HKD.

On the news front, domestic tungsten prices have shown signs of rebounding after stabilizing from a July decline, while overseas premium rates have reached historical highs. UBS initiated coverage on the company with a \"Buy\" rating and a target price of 88.7 HKD, corresponding to approximately 12x forecast P/E for 2027. The bank projects concentrate output of 8,600 tons this year, rising to 11,100 and 11,700 tons in 2027 and 2028 respectively as the second-phase expansion comes online, with gross margin expected to reach 77% by 2028.

Additionally, the company issued a positive profit alert indicating H1 net profit attributable to equity holders of approximately 14.5 to 15.5 billion HKD, a significant turnaround from a net loss of approximately 6 million HKD in the prior-year period, driven by commercial tungsten concentrate production and higher average selling prices. The company also announced an H2 share buyback plan of up to 200 million HKD.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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